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REGISTERED NUMBER: SC393743 (Scotland)
















Financial Statements for the Year Ended 31 December 2022

for

AR (Wellmeadow) Ltd

AR (Wellmeadow) Ltd (Registered number: SC393743)






Contents of the Financial Statements
for the Year Ended 31 December 2022




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


AR (Wellmeadow) Ltd

Company Information
for the Year Ended 31 December 2022







DIRECTORS: D Gaffney
G Coster
R Boyd





REGISTERED OFFICE: 231 St Vincent Street
GLASGOW
G2 5QY





REGISTERED NUMBER: SC393743 (Scotland)





AUDITORS: McLay McAlister & McGibbon LLP
Chartered Accountants and Statutory Auditors
145 St Vincent Street
Glasgow
G2 5JF

AR (Wellmeadow) Ltd (Registered number: SC393743)

Balance Sheet
31 December 2022

31.12.22 31.12.21
Notes £    £   
CURRENT ASSETS
Stocks - 1,740,611
Debtors 4 191,177 34,147
Cash at bank 336 2,078,869
191,513 3,853,627
CREDITORS
Amounts falling due within one year 5 (163,095 ) (220,073 )
NET CURRENT ASSETS 28,418 3,633,554
TOTAL ASSETS LESS CURRENT
LIABILITIES

28,418

3,633,554

CREDITORS
Amounts falling due after more than one
year

6

-

(3,659,970

)
NET ASSETS/(LIABILITIES) 28,418 (26,416 )

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 28,318 (26,516 )
SHAREHOLDERS' FUNDS 28,418 (26,416 )

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 15 March 2024 and were signed on its behalf by:





R Boyd - Director


AR (Wellmeadow) Ltd (Registered number: SC393743)

Notes to the Financial Statements
for the Year Ended 31 December 2022

1. STATUTORY INFORMATION

AR (Wellmeadow) Ltd is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Going concern
The company was set up with the intention of developing the site at Wellmeadow into residential properties for sale. As at 31 December 2022 all plots have settled and once all debtors and creditors have been satisfied the company will be dissolved.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Stocks
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Financial instruments
Debtors
Trade and other debtors are recognised at the settlement amount due with appropriate allowances for irrecoverable amounts when there is objective evidence the asset is impaired.

Cash and cash equivalents
Cash and cash equivalents in the balance sheet comprise cash in hand and bank overdrafts.

Creditors
Trade and other creditors are recognised where the company has a present obligation resulting from a past event and are recognised at the settlement amount due after allowing for any trade discounts due.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


AR (Wellmeadow) Ltd (Registered number: SC393743)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2022

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2021 - NIL).

4. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.22 31.12.21
£    £   
Amounts owed by group undertakings 180,751 11,123
Other debtors 10,426 23,024
191,177 34,147

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.22 31.12.21
£    £   
Trade creditors 4,563 1,320
Amounts owed to group undertakings 122,826 122,826
Taxation and social security 559 -
Other creditors 35,147 95,927
163,095 220,073

6. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.12.22 31.12.21
£    £   
Other creditors - 3,659,970

7. LOANS

An analysis of the maturity of loans is given below:

31.12.22 31.12.21
£    £   
Amounts falling due within one year or on demand:
Other loans 15,147 -

Amounts falling due between two and five years:
Other loans - 2-5 years - 3,659,970

Interest is charged on the loan balance on a day to day basis at a fixed rate of 15%.

AR (Wellmeadow) Ltd (Registered number: SC393743)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2022

8. SECURED DEBTS

The following secured debts are included within creditors:

31.12.22 31.12.21
£    £   
Other loans 15,147 3,659,970

Security is held over the assets of the company by RS Luxembourg II S.A.R.L.

9. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.


We draw attention to Note 2, regarding going concern, of the financial statements which explains that the directors intend to liquidate the company and therefore do not consider it to be appropriate to adopt the going concern basis of accounting in preparing the financial statements. Accordingly the financial statements have been prepared on a basis other than going concern as described in Note 2. Our opinion is not modified in respect of this matter.

Paul Martin (Senior Statutory Auditor)
for and on behalf of McLay McAlister & McGibbon LLP

10. FRC ETHICAL STANDARD - PROVISIONS AVAILABLE FOR SMALL ENTITIES

In common with many other businesses of our size and nature we use our auditors to prepare and submit returns to the tax authorities and assist with the preparation of the financial statements.

11. ULTIMATE CONTROLLING PARTY

The entire share capital of the company is beneficially owned by AR Development Investments Limited, which is incorporated in England.

The ultimate parent undertaking is RS Fund II LP, a fund incorporated in Jersey. There is no ultimate controlling party as no individual holds more than 10% of the fund.

A copy of the consolidated financial statements can be obtained from the registered office:

11-15 Seaton Place
St Helier
Jersey
JE4 0QH